LifeCell product revenues up 45% on increased AlloDerm demand

By Lisa Kerner

Charlotte, N.C., Oct. 25 - LifeCell Corp. said it ended the third quarter with $69.4 million of cash and investments and no debt at Sept. 30.

Product revenues for the quarter were up 45% at $35.1 million, from $24.3 million for the same period in 2005. The company attributed the rise to a 55% increase in demand for AlloDerm Regenerative Tissue Matrix.

Operating income increased 144% to $8.7 million, from $3.6 million in the third quarter of 2005.

Net income for the third quarter rose to $5.1 million, or $0.15 per diluted share, from $2.5 million, or $0.07 per diluted share, for the prior-year period.

For the first nine months of 2006, LifeCell's product revenues were up 53% at $101.3 million, from $66.3 million for the same period of 2005.

The company reported operating income of $23.9 million, a 97% increase from $12.1 million for the first nine months of 2005.

For the nine-month period, net income was $14.2 million, or $0.42 per diluted share, compared with net income of $8.2 million, or $0.25 per diluted share, for the first nine months of 2005.

Based on its recent results, LifeCell said it expects full-year 2006 product revenues in the range of $138.0 million to $140.0 million and operating income in the range of $32.5 million to $33.5 million.

LifeCell, based in Branchburg, N.J., develops and markets products made from human tissue for use in reconstructive, orthopedic and urogynecologic surgical procedures.

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